Stock market today: The domestic benchmark indices, Nifty 50 and Sensex, experienced declines on Friday as profit-booking affected financial and IT stocks, though they still recorded their third consecutive week of gains following a US rate reduction, local tax cuts, and positive sentiment surrounding trade discussions with Washington.
The Nifty 50 decreased by 0.38% to reach 25,327.05, while the Sensex fell by 0.47% to settle at 82,626.23 on Friday. Both indexes recorded a weekly increase of 0.9%.
Trade Setup for Monday
Ajit Mishra – Senior Vice President of Research at Religare Broking Ltd, indicated that the Nifty 50 index is nearing its trendline resistance level around 25,500. A significant breakout here could lead to a rally towards 25,750. Conversely, the 24,900–25,150 range is likely to offer solid support if there is any profit-taking.
Regarding the Bank Nifty, Ajit Mishra noted that the banking index showed resilience over the week, although the ongoing underperformance in private sector banks continues to limit its momentum.
“We maintain our target zone of 56,000–56,200, with scope to extend toward 56,700 if strength persists. On the downside, it is critical to hold 54,900 as immediate support; a breach could extend declines toward 54,400,” said Mishra.
Global Markets, GST 2.0, India–US trade talks and Trump Tariffs
Siddhartha Khemka, Head of Research at Wealth Management for Motilal Oswal Financial Services Ltd, indicated that they anticipate the market to stay strong with a positive outlook, bolstered by a potential increase in consumption following the GST rate cut set to take effect on September 22nd, coinciding with the start of the Navratri celebrations, which should further stimulate demand.
The outlook for export-oriented industries is also expected to improve, supported by the recent interest rate cut by the US Federal Reserve and positive developments in India–US trade negotiations.
Stocks to buy today
Regarding stocks to buy today, market experts—Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi and Shiju Koothupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, recommended these Eight intraday stocks for today: Astra Microwave Products Ltd, Ajmera Realty & Infra India Ltd, Rallis India Ltd, Kirloskar Pneumatic Company Ltd, PNB Housing Finance Ltd, Minda Corporation Ltd, CESC Ltd, and Syrma SGS Technology Ltd.
Sumeet Bagadia’s stock picks
- Astra Microwave Products Ltd – Bagadia recommends buying Astra Microwave Products share price at ₹1,140 keeping a stoploss at ₹1,100 with a Astra Microwave Products share price target of ₹1,222.
Astra Microwave Products share price was trading at the levels of 1,140 on Friday, the stock was showing a steady upward trend on the daily chart, forming a breakout from a cup and handle pattern. This pattern typically suggested a continuation of bullish momentum, which was being confirmed by increasing volume and higher closing levels. The stock crossed above a key resistance zone and is now trading at 1,126, said Bagadia.
In conclusion, based on the technical analysis and current market conditions, Astra Microwave Products share price presents a promising buying opportunity for those aiming for a 1,222 target, provided that appropriate risk management strategies are in place.
2. Ajmera Realty & Infra India Ltd – Bagadia recommends buying Ajmera Realty & Infra India share price at ₹1,052 keeping a stoploss at ₹1,015 with Ajmera Realty share price target of ₹1,130.
Ajmera Realty share price was trading at ₹1,052 on Friday, the stock is currently displaying a long-term uptrend, evident from its recent strong rally. The price structure was forming a sequence of higher lows and higher highs in recent sessions. The rise comes with sizeable bullish candles and increased volumes, indicating notable buying pressure.
Supporting the strength of the trend, the 20, 50, 100, and 200-day Exponential Moving Averages are all trending upwards, highlighting solid demand and positive sentiment across various timeframes. With the price holding well above these key moving averages, the technical setup remains favourable, explained Sumeet.
In conclusion, based on the technical analysis and current market conditions, Ajmera Realty share price presents a promising buying opportunity for those aiming for a 1,130 target, provided that appropriate risk management strategies are in place.
Ganesh Dongre’s stocks to buy today
3. Rallis India Ltd: Ganesh Dongre recommends buying Rallis India share price at ₹336 with a stoploss at ₹325 with Rallis India share price target of ₹357.
Rallis India share price has been exhibiting a strong and consistent bullish pattern, indicating sustained investor interest and positive price momentum. The stock is currently trading at ₹336 and has established a solid support base at ₹325. This level has historically acted as a cushion, and the recent price action suggests a reversal from this support, reinforcing bullish sentiment. The technical setup points to the potential for a price retracement toward the ₹357 level in the near term.
Given the renewed strength and the favourable risk-reward ratio, entering at the current market price with a stop-loss placed at ₹325 offers a strategic opportunity to capture the expected upside move. The outlook remains positive as long as the stock holds above its key support zone
4. Kirloskar Pneumatic Company Ltd: Ganesh Dongre recommends buying Kirloskar Pneumatic share price at ₹1,260 with a stoploss at ₹1,225 with Kirloskar Pneumatic share price target of ₹1,320.
Kirloskar Pneumatic share price has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹1,250 and maintaining a strong support at ₹1,225. The technical setup indicates the potential for a price retracement towards the ₹1,320 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹1,225 offers a prudent approach to capturing the anticipated upside.
5. PNB Housing Finance Ltd: Ganesh Dongre recommends buying PNB Housing Finance share price at ₹871 with a stoploss at ₹850 with a PNB Housing Finance share price target of ₹900.
PNB Housing Finance share price has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹871 and maintaining a strong support at ₹850. The technical setup indicates the potential for a price retracement towards the ₹900 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹850 offers a prudent approach to capturing the anticipated upside.
Shiju Koothupalakkal intraday stocks for today
6. Minda Corporation Ltd: Shiju Koothupalakkal recommends buying Minda Corporation share price at ₹549 with a Minda Corp share price target of ₹575 with a stop loss of ₹538.
Minda Corporation share price has maintained a good base near the 50EMA zone at 505 level and currently has indicated a bullish candle formation on the daily chart with significant volume participation visible to improve the bias and can expect for further rise in the coming sessions. The RSI is currently on the rise indicating strength and can carry on with the positive move further ahead.
“With the chart technically well placed, we suggest buying the stock for an upside target of 575 keeping the stop loss at the 538 level,” said Koothupalakkal.
7. CESC Ltd: Shiju Koothupalakkal recommends buying CESC share price of ₹169.46 with a CESC share price target of ₹182 with a stop loss of ₹166.
CESC share price after a strong recovery and a short period of consolidation has indicated a positive bullish candle formation taking support near the important 50EMA at 164 level has improved the bias anticipating for further rise in the coming sessions. The RSI is on the rise gaining strength and with upside potential visible, the chart looks very much attractive.
“With the chart technically well placed, we suggest buying the stock for an upside target of 182 keeping the stop loss at the 166 level,” said Shiju.
8. Syrma SGS Technology Ltd: Shiju Koothupalakkal recommends buying Syrma SGS Tech share price of ₹827.55 with a Syrma SGS Tech share price target of ₹870 with a stop loss of ₹810.
Syrma SGS Tech share price has indicated a higher bottom formation pattern on the daily chart taking support near the 792 zone and with a decent pullback visible has improved the bias to anticipate for another fresh round of momentum in the coming sessions. The RSI has corrected from the overbought zone and is currently well positioned once again indicating a positive trend reversal to signal a buy.
“With the chart technically looking good, we suggest buying the stock for an upside target of 870 keeping the stop loss at the 810 level,” said Koothupalakkal.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.